Asia Pacific, with its rising middle-class and mobile-first mindset, is a key region driving digital expansion.
While online sales represent only a small percentage of total sales in many Asian nations, about one-fifth of apparel and footwear sales in China and South Korea are now made in digital channels.
China has grown rapidly and sales are now higher than the US.
Chinese traveler key takeouts in Europe 2017:
- The softening of JPY and the slight consumer confidence improvement in China have a direct positive impact in traveling and consumerism.
- Due to political instability and security concerns, Korea is suffering from a traffic perspective with Chinese whom account for 70+% of spend.
- Across regions, Chinese traffic increase in due to CNY and compare to a low base.
- In January 2017, average spend decline is less of a concern due to positive macro drivers and price adjustment through local sales.
- Lots of local Chinese economical factors are pointing into the right directions.
- We can expect Chinese consumption to be back to growth through both more travelers and stronger willingness to spend.
For Chinese consumers who shop abroad – the tax refund system upon returning to China can be complicated and time consuming.
Chinese consumers behavior:
- Seeking the experience
- Avoid high prices at home / tax refund system is complicated
- In EU, Chinese consumer spend ~2400€ for a single trip
- 30% of tax refunds are not filled correctly
Safety Tax Free: New mobile application
- simplified system
- ensuring travelers receive the correct tax refund amount despite not having enough time at the airport
- stress free traveling
Safety Tax Free handles all financial interactions with the tax authority as to not burden the user, who is updated on the status via app notifications.
Customer has to:
- present the form to the custom office to receive a stamp via express mail
- unlock the refund sum
- transfer the payout amount using mobile payment solutions (1 to 3 days)
Affiliated with approximately 7,000 Chinese tour guides
Luxury Daily – “Safety Tax free offers mobile refund solution following Chinese consumers’trips abroad – March 13, 2017 by JEN KING
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